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5671.0 - Lending Finance, Australia, Sep 2006  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 13/11/2006   
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SEPTEMBER KEY FIGURES


Aug 2006
Sep 2006
Aug 2006 to Sep 2006
$m
$m
% change

TREND ESTIMATES
Housing finance for owner occupation
13 933
13 908
-0.2
Personal finance
6 657
6 574
-1.2
Commercial finance
32 647
33 053
1.2
Lease finance
514
502
-2.3
SEASONALLY ADJUSTED ESTIMATES
Housing finance for owner occupation
13 886
13 560
-2.3
Personal finance
6 617
6 484
-2.0
Commercial finance
33 128
37 834
14.2
Lease finance
501
498
-0.6

Personal finance
Graph: Personal finance

Commercial finance
Graph: Commercial finance



SEPTEMBER KEY POINTS


HOUSING FINANCE FOR OWNER OCCUPATION

September 2006 COMPARED WITH August 2006:

  • The total value of owner occupied housing commitments excluding alterations and additions decreased by 2.3% (seasonally adjusted), while the trend series fell 0.2%.


PERSONAL FINANCE

September 2006 COMPARED WITH August 2006:
  • The seasonally adjusted series for the value of total personal finance commitments fell by 2.0%. This decrease was due to decreases in revolving credit commitments (down 2.1%) and fixed lending commitments (down 1.9%).
  • The trend series for the value of total personal finance fell 1.2% due to a decrease in revolving credit commitments (down 2.3%) with fixed lending commitments remaining virtually unchanged.


COMMERCIAL FINANCE

September 2006 COMPARED WITH August 2006:
  • The seasonally adjusted series for the value of total commercial finance commitments rose by 14.2%. This increase was due to an increase in revolving credit commitments (up 65.4%) more than offsetting a decrease in fixed lending commitments (down 7.2%).
  • The trend series for the value of total commercial finance commitments rose by 1.2%. Increases were recorded for both revolving credit commitments (up 3.4%) and fixed lending commitments (up 0.2%).


LEASE FINANCE

September 2006 COMPARED WITH August 2006:
  • Lease finance commitments (seasonally adjusted) decreased by 0.6%. The lease finance trend series fell by 2.3%.


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
October 2006 12 December 2006
November 2006 17 January 2007
December 2006 13 February 2007
January 2007 14 March 2007
February 2007 13 April 2007
March 2007 15 May 2007



CHANGES IN THIS ISSUE

There are no significant changes to this issue.



INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Michael Abbondante on Canberra (02) 6252 6707.



TIME SERIES DATA


TIME SERIES SPREADSHEETS

Data available free on the ABS web site <http://www.abs.gov.au> include:

  • longer time series of tables in this publication, and
  • the following tables:
      C1a. Commercial finance commitments (original, seasonally adjusted, trend)
      C1b. Commercial finance commitments, fixed loans and revolving credit
      C1c. Commercial finance commitments, fixed loans and revolving credit by lender
      C1d. Commercial finance commitments, fixed loans by industry
      C1e. Commercial finance commitments, revolving credit by industry
      C2 to C9. Commercial finance commitments, fixed loans and revolving credit by state and territory
      L1a. Lease finance commitments, summary (original, seasonally adjusted, trend)
      L1b. Lease finance commitments by purpose
      L1c. Lease finance commitments by purpose and lender
      L1d. Lease finance commitments by industry
      L2 to L9. Lease finance commitments by purpose and state and territory
      OL1b. Operating lease finance commitments by purpose
      OL1c. Operating lease finance commitments by lender
      OL1d. Operating lease finance commitments by industry
      OL2 to OL9. Operating lease finance commitments by purpose and state and territory
      P1a. Personal finance commitments, summary (original, seasonally adjusted, trend)
      P1b. Personal finance commitments, fixed loans and revolving credit
      P1c. Personal finance commitments, fixed loans and revolving credit by lender
      P2 to P9. Personal finance commitments, fixed loans and revolving credit by state and territory
      13 Lending Finance Seasonal Factors, By Purpose and Lender: Australia, January 1985 to September 2007.


SUMMARY OF FINDINGS


HOUSING FINANCE FOR OWNER OCCUPATION

The total value of owner occupied housing commitments excluding alterations and additions decreased by 2.3% (seasonally adjusted) in September 2006, while the trend series fell 0.2%.


For further information, please refer to Housing Finance, Australia (cat. no. 5609.0).



PERSONAL FINANCE

In seasonally adjusted terms, the value of total personal finance commitments fell by 2.0% in September 2006 compared with August 2006. This fall was due to a decrease in revolving credit commitments (down 2.1%) and fixed lending commitments (down 1.9%).


In trend terms, the value of total personal finance fell 1.2% in September 2006. The trend series for revolving credit commitments fell 2.3%, while fixed lending commitments remained virtually unchanged.


In original terms, fixed lending commitments decreased by $283m (down 8.9%) in September 2006 compared with August 2006.


Movements in the original series contributing to this decrease were:

  • Refinancing, down $90m (-11.5%), compared with an average August to September increase of 0.8% over the previous three years.
  • Debt consolidation, down $62m (-17.2%) compared with an average August to September increase of 3.7% over the previous three years.


COMMERCIAL FINANCE

The seasonally adjusted series for the value of total commercial finance commitments rose by 14.2% in September 2006. The increase was due an increase in revolving credit commitments (up 65.4%) more than offsetting a fall in fixed lending commitments (down 7.2%).


The trend series for commercial finance commitments increased 1.2% in September 2006. An increase was recorded for both revolving credit commitments (up 3.4%), and fixed lending commitments (up 0.2%).


The value of purchases of dwellings by individuals for rent or resale (seasonally adjusted) fell by 12.5% in September 2006, after a revised decrease of 0.1% in August 2006. The trend series fell 2.6% in September 2006.


PURCHASE OF DWELLINGS BY INDIVIDUALS FOR RENT OR RESALE

Graph: Purchase of dwellings by individuals for rent or resale




LEASE FINANCE

The value of lease finance commitments (seasonally adjusted) decreased by 0.6% in September 2006. The trend series for lease finance commitments fell by 2.3%.

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